Welcome!

News Feed Item

Mammoth Announces Results from Ground Geophysics Survey Indicating Numerous Targets at Depth Coincident With Surface Mineralization

TORONTO, ONTARIO -- (Marketwired) -- 01/16/14 -- Mammoth Resources Corp. (TSX VENTURE:MTH) is pleased to report the results of a pole-dipole induced polarization (IP) and magnetic ground geophysics survey at its Tenoriba property located in the state of Chihuahua, Mexico. The magnetic survey has assisted in confirming the presence of east-west, east northeast and locally northwest trending structures (faults) which Mammoth geologists based on their mapping and sampling work has identified as controls for gold-silver mineralization. The IP survey also assisted in identifying these same structures with strike lengths of greater than 100 metres up to as much as 600 metres and in most cases these remain open beyond these lengths. A few of these structures are closely associated to artisanal mine workings (e.g. at El Moreno). These IP axes once more appear to confirm at depth the same features as were identified by company geologists mapping & sampling gold-silver mineralization and alteration controls on surface. Areas of specific interest are identified in Figure 1, Tenoriba Geophysics Survey Results, Zones A, B and C. Additional areas of interest are similarly identified on this figure between and to the north and south of these zones.

Thomas Atkins, President and CEO of Mammoth commented on the results from the geophysics survey stating: "We initiated the geophysics survey on approximately half of the large 15 square kilometre anomalous gold in soil area in which our mapping and sampling produced numerous attractive gold and silver assay values. We're very pleased with these results. The geophysics has illustrated strong correlation at depth with alteration and mineralized features mapped on surface which are prime drill targets. Beyond the specific targets identified in the survey, there is a large 1.2 kilometre long area between the El Moreno and Masuparia grid that has not yet been surveyed, which may be the continuity of features observed at El Moreno and Masuparia. We also have yet to survey the Cerro Colorado area to the west of El Moreno. The next logical step in the development of the property is to drill test targets from this survey. Drilling will validate geophysics as a tool to assist us in identifying mineralized zones, the nature and extent of mineralization at these targets prior to additional geophysics being performed to cover the remainder of the property. We plan to initiate steps to advance this first phase drill program in the coming weeks. As we embark on this drilling it is important to remember that Masuparia Gold Corp. in 2008 drilled blind, targeting only surface features, and yet reported attractive results in 10 of 15 drill holes."

Mr. Atkins, will be attending the Cambridge House Vancouver Resource Investment Conference January 19th - 20th occupying booth no. 1811. Mr. Atkins looks forward to meeting investors and discussing these results at the conference.

Review of Results from the Geophysics Survey

The geophysical surveys were carried out by Geofisica TMC S.A. de C.V. of Mazatlan, Sinaloa, Mexico from October 8 through November 14, 2013. The surveys were performed over three grids, each grid consisting of north-south oriented lines spaced at 100 metre intervals. Line lengths varied from 1.2 kilometres to 2.5 kilometres often depending on topography and ease of access to survey. A total of 32.2 linear kilometres were surveyed. Lectures (reading sites) were taken at every 50 metres along the lines for the IP survey and the magnetic survey was performed by continuous GPS lectures. The IP pole-dipole configuration selected for the survey produces an approximate maximum survey depth of 250 metres. The target areas covered were El Moreno (3 lines), Masuparia grid (7 lines) and Los Carneritos (10 lines) (refer to Figure 1, Tenoriba Geophysics Survey Results).

Mammoth personnel are currently reviewing the interpretation of the survey results performed by Joel Simard (Geofisica TMC's contract geophysicist) and his recommendations. It is expected that targets for drill testing will be selected after this detailed review and a subsequent surface verification. It is worth noting that Masuparia Gold Corp., in 2008 drilled 15 diamond drill holes testing an approximate 1.5 by 1.5 kilometre area in the centre of a 15 square kilometre anomalous gold in soil area. Masuparia reported results from 10 of the 15 holes drilled, with all 10 holes having intersections grading greater than 0.5 grams per tonne (gpt) gold, of which the highest grade intersection was in drill hole TDH-07 grading 45.90 gpt gold over 1.9 metres and of which the thickest intersection was TDH-14 grading 0.5 gpt gold over 66.0 metres (refer to press release available on SEDAR, Masuparia Gold Corp., June 30, 2008).

Magnetic Survey

The 'total field' and 'reduced to poles' magnetic survey interpretations exhibit distinct magnetic domains which are interpreted to be delimited by east northeast and east-west structures (faults). In addition, the first vertical derivative confirmed the presence of east-west, east northeast and locally northwest trending structures, which the company's mapping and sampling has identified as gold-silver mineralized and alteration controls (silica, dickite alteration clay). The strongest anomalies (AM-8, 9, 10 and 11 - refer to Figure 1) are located to the south of Masuparia and Los Carneritos grid and appear related to the contact of the monzonite and diorite intrusives. In the northern part of Los Carneritos the anomalies have wavelengths indicative of a shallow source and clearly mimic the shape of the mapped strata-bound chaotic volcanic breccias which to date are the best host rock for gold-silver mineralization and altered volcanics (vuggy silica, silica, dickite alteration clay) on the property.

IP Survey

Similar to the magnetic survey results, east northeast and northwest and minor northeast IP axes (anomalous chargeability and/or resistivity survey results) can be clearly interpreted. These anomalies range from less than 100 metres up to 600 metres in strike length and in most case remain open along strike. The orientations of these IP axes are consistent with the gold-silver mineralized and altered volcanics (vuggy silica, silica, dickite alteration clay) mapped and sampled by company geologists from surface and in some case could be lithological in origin. A few of the IP axes are closely associated to artisanal mine workings (e.g. El Moreno). These IP axes confirm our surface mapping and sampling where gold and silver values in excess of 0.3 gpt gold have been encountered in highly altered volcanic rocks. The chargeability can be associated to the presence of sulfides and the resistivity to the degree of silica alteration, both of which may be indicative of gold-silver, precious metal mineralization. The strongest chargeability IP axes are located in the southern parts of the Masuparia and Los Carneritos grids most likely reflective of the contact with the monzonite-diorite composition intrusive (one of the possible sources of the gold-silver observed in other areas of the property), observed in this area.

The next step in the development of the property is to drill test targets from this survey. Drilling should help validate observed features from the geophysics survey and assist in validating the geophysics as a tool to assist in identifying mineralized zones as well as demonstrating the precious metal composition of these targets. We plan to initiate steps to advance this drill program in the coming weeks.

Mammoth would like to report the issuance of 279,000 options exercisable at $0.05/share to certain insiders of the company under the terms of the Company's option plan.

Qualified Person / Quality Controls:

Richard Simpson, P.Geo., Vice-President Exploration for Mammoth Resources Corp. is Mammoth's Qualified Person, according to National Instrument 43-101, for the Tenoriba property and is responsible for and has reviewed any technical data mentioned in this news release.

About Mammoth Resources:

Mammoth Resources (TSX VENTURE:MTH) is a mineral exploration company focused on acquiring and defining precious metal resources in Mexico and other attractive mining friendly jurisdictions in the Americas. The Company has an option to acquire 100% in the Tenoriba Property located in the Sierra Madre Precious Metal Belt in southwestern Chihuahua State, Mexico. The company continues to seek other option agreements in the Americas on other properties it deems to host above average potential for economic concentrations of precious metals mineralization.

To find out more about Mammoth Resources and to sign up to receive future press releases, please visit the company's website at www.mammothresources.ca.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information: This news release may contain or refer to forward-looking information. All information other than statements of historical fact that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are forward-looking statements; examples include the listing of its shares on a stock exchange and establishing mineral resources. These forward-looking statements are subject to a variety of risks and uncertainties beyond the Company's ability to control or predict that may cause actual events or results to differ materially from those discussed in such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not be placed on these forward-looking statements due to the inherent uncertainty therein.

To view "Figure 1. Tenoriba Geophysics Survey Results", please visit the following link: http://media3.marketwire.com/docs/922486.jpg.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
SYS-CON Events announced today that Grape Up will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct. 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Grape Up is a software company specializing in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market across the U.S. and Europe, Grape Up works with a variety of customers from emergi...
Detecting internal user threats in the Big Data eco-system is challenging and cumbersome. Many organizations monitor internal usage of the Big Data eco-system using a set of alerts. This is not a scalable process given the increase in the number of alerts with the accelerating growth in data volume and user base. Organizations are increasingly leveraging machine learning to monitor only those data elements that are sensitive and critical, autonomously establish monitoring policies, and to detect...
"We're a cybersecurity firm that specializes in engineering security solutions both at the software and hardware level. Security cannot be an after-the-fact afterthought, which is what it's become," stated Richard Blech, Chief Executive Officer at Secure Channels, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
In his session at 20th Cloud Expo, Mike Johnston, an infrastructure engineer at Supergiant.io, discussed how to use Kubernetes to set up a SaaS infrastructure for your business. Mike Johnston is an infrastructure engineer at Supergiant.io with over 12 years of experience designing, deploying, and maintaining server and workstation infrastructure at all scales. He has experience with brick and mortar data centers as well as cloud providers like Digital Ocean, Amazon Web Services, and Rackspace. H...
Consumers increasingly expect their electronic "things" to be connected to smart phones, tablets and the Internet. When that thing happens to be a medical device, the risks and benefits of connectivity must be carefully weighed. Once the decision is made that connecting the device is beneficial, medical device manufacturers must design their products to maintain patient safety and prevent compromised personal health information in the face of cybersecurity threats. In his session at @ThingsExpo...
You know you need the cloud, but you’re hesitant to simply dump everything at Amazon since you know that not all workloads are suitable for cloud. You know that you want the kind of ease of use and scalability that you get with public cloud, but your applications are architected in a way that makes the public cloud a non-starter. You’re looking at private cloud solutions based on hyperconverged infrastructure, but you’re concerned with the limits inherent in those technologies.
SYS-CON Events announced today that Massive Networks will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Massive Networks mission is simple. To help your business operate seamlessly with fast, reliable, and secure internet and network solutions. Improve your customer's experience with outstanding connections to your cloud.
DevOps is under attack because developers don’t want to mess with infrastructure. They will happily own their code into production, but want to use platforms instead of raw automation. That’s changing the landscape that we understand as DevOps with both architecture concepts (CloudNative) and process redefinition (SRE). Rob Hirschfeld’s recent work in Kubernetes operations has led to the conclusion that containers and related platforms have changed the way we should be thinking about DevOps and...
Everything run by electricity will eventually be connected to the Internet. Get ahead of the Internet of Things revolution and join Akvelon expert and IoT industry leader, Sergey Grebnov, in his session at @ThingsExpo, for an educational dive into the world of managing your home, workplace and all the devices they contain with the power of machine-based AI and intelligent Bot services for a completely streamlined experience.
Because IoT devices are deployed in mission-critical environments more than ever before, it’s increasingly imperative they be truly smart. IoT sensors simply stockpiling data isn’t useful. IoT must be artificially and naturally intelligent in order to provide more value In his session at @ThingsExpo, John Crupi, Vice President and Engineering System Architect at Greenwave Systems, will discuss how IoT artificial intelligence (AI) can be carried out via edge analytics and machine learning techn...
FinTechs use the cloud to operate at the speed and scale of digital financial activity, but are often hindered by the complexity of managing security and compliance in the cloud. In his session at 20th Cloud Expo, Sesh Murthy, co-founder and CTO of Cloud Raxak, showed how proactive and automated cloud security enables FinTechs to leverage the cloud to achieve their business goals. Through business-driven cloud security, FinTechs can speed time-to-market, diminish risk and costs, maintain continu...
When shopping for a new data processing platform for IoT solutions, many development teams want to be able to test-drive options before making a choice. Yet when evaluating an IoT solution, it’s simply not feasible to do so at scale with physical devices. Building a sensor simulator is the next best choice; however, generating a realistic simulation at very high TPS with ease of configurability is a formidable challenge. When dealing with multiple application or transport protocols, you would be...
Existing Big Data solutions are mainly focused on the discovery and analysis of data. The solutions are scalable and highly available but tedious when swapping in and swapping out occurs in disarray and thrashing takes place. The resolution for thrashing through machine learning algorithms and support nomenclature is through simple techniques. Organizations that have been collecting large customer data are increasingly seeing the need to use the data for swapping in and out and thrashing occurs ...
As many know, the first generation of Cloud Management Platform (CMP) solutions were designed for managing virtual infrastructure (IaaS) and traditional applications. But that’s no longer enough to satisfy evolving and complex business requirements. In his session at 21st Cloud Expo, Scott Davis, Embotics CTO, will explore how next-generation CMPs ensure organizations can manage cloud-native and microservice-based application architectures, while also facilitating agile DevOps methodology. He wi...
SYS-CON Events announced today that Datera, that offers a radically new data management architecture, has been named "Exhibitor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Datera is transforming the traditional datacenter model through modern cloud simplicity. The technology industry is at another major inflection point. The rise of mobile, the Internet of Things, data storage and Big...